🥳 Hey hey hey! Good news, folks!
We are pleased to announce that EvoDefi has expanded to new chain. Now we are available on Polygon (Matic)! 🙌
Farming will start on May 12 at 11pm UTC. You can deposit now!
Polygon has low fees, fast transactions and has proven to be more stable. It has big community and deploying our dApp on Polygon gives us access to this market. It’s a great deal for EvoDefi! 🥳
How do I start?
- First things first — setup your wallet. If you are using laptop, just go to https://quickswap.exchange/#/swap and click button “Switch To Matic”
- If you are on a mobile phone, please add Matic network manually. Here is your guide: https://docs.matic.network/docs/develop/metamask/config-matic/
- To transfer your BSC assets to Matic use https://www.xpollinate.io/
- To transfer your Ethereum Network assets to Matic use https://wallet.matic.network/bridge
- Buy GEN: https://quickswap.exchange/#/swap?outputCurrency=0x161c0EcE60dCFcdC3e4BDd5F1cDe3eD2f68285A9
- Provide liquidity and stake in Farms or Pools
- Enjoy insane APR, lowest fees possible and stable network when farming starts!
What does this mean to the project on Binance Smart Chain? Our main project remains fully functional and we continue its development at the same pace. Farms, Pools, Elastic Emission, NFTs, Monsters Battles — everything is functional and will stay functional forever.
Will you be able to send your GEN tokens from BSC to Matic and vice versa? Bridge will be introduced soon, please be patient and wait for our official announcement. Initial pool for the bridge will be formed with devs fees and will have daily limit to prevent situation when Bridge may dry out.
Does this mean that emission of token will double? Short answer is — no. GEN tokens generated by Matic network and GEN tokens generated by BSC network are entirely different by their nature — they aren’t identical. They exist in different worlds and can exist only in the network they were generated in. Bridge allows you to exchange one token for another while all tokens still remain on their side of the bridge. It means that for each Matic GEN bridge should have BSC GEN. In the other case transfer is not possible. Initial Bridge is formed with devs fee which will take them out of circulation. When one would exchange 1000 Matic GEN for 1000 BSC GEТ— Bridge will conduct 2 transactions — sending from user’s address 1000 Matic GEN to Bridge’s address and the second transaction — send from Bridge’s address 1000 BSC GEN to the user’s address. The last transaction will return GENs to circulation that were taken out before by the Bridge. What has been taken away can be returned but no new GEN tokens can ever flow from one network to the other. Same as Binance Bridge when you send ETH from Ethereum Network to Binance Smart Chain Network — no double emission happens, only Bridge works with some daily limit ( yes, even such giant as Binance has to have daily limit for its Bridge).
How does this change EvoDefi’s Tokenomics? From previous answer you might have gotten the idea that it is more like two different projects or to be precise — the same project in different universes and thus should have separate indicators — TVL, Market Cap, Total Minted, Total Burned, Circulation Supply and emission rate.
What will happen with the price? Understandably some holders will seize the moment and send their funds to a fresh farm that offers insane APR. This might lower down TVL on BSC version of Evolution thus boosting APR for those who will stay. Others might seize the other opportunity and buy the dip on BSC in expectation of Bridge to come and average the price between networks which means that price on Matic can get lower as people will try to perform arbitrage and price on BSC will go up. Anyways — those aren’t anything else rather than speculations. Things can go their own way. We marketed our debut on Polygon and TVL can grow fast bringing price on Matic to the moon. Bridge will solve this case giving people opportunity to arbitrage. Yet, out of common sense — expansion to the other Layer 2 solution is always a good thing. This is our first expansion and we have so much more to conquer!
Will I be able to transfer my NFTs through the Bridge? Yes! Bridge will allow to transfer not only GEN but also all your NFTs.